Magazine

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Jun 2015

Country Profile


Standing on firmer ground

The biggest achievement for Turkey's insurance sector in 2014 was maintaining its profitability for a second consecutive year, even as premium performance fell below expectations. Competition remains intense particularly at the lower end of the market, with the number of insurers remaining constant despite the acquisitions of recent years.


Profits up while premiums slide

Turkey's insurance market continued to see improved profitability despite a slowdown in premium income in 2014. Mrs Burcu Ayten of Milli Re analyses the market.

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Economic growth to boost non-life potential

Turkey's non-life insurance market is expected to record top- and bottom-line growth despite a reliance on investment income, says Mr Ali Karakuyu of Standard & Poor's Ratings Services.

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A market poised for growth

Mr Kerim Gurkan of JLT Turkey assesses the opportunities and challenges in Turkey's insurance market against the backdrop of macroeconomic trends.

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Compulsory motor: The road to sustainability

Compulsory motor third-party liability in many markets around the world is an unprofitable part of the portfolio. But the Turkish market has been one of the most challenging, and the losses seem to be continuing, notes Mr Chris Halliday of Towers Watson.

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Life and pensions: Getting the right balance for success

Mr Mehmet Eryilmaz of PwC discusses the "right balance" in managing regulatory, competitive and customer pressures facing life insurance and pensions companies.

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Healthcare: A rosy outlook

The market for healthcare in Turkey is growing, thanks to economic development and regulatory changes. Mr Chris Baker of Clements Worldwide analyses the impact this has had on the private health insurance market.

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Takaful in Turkey: A new area of development

Mr Ali Izic of EY Turkey discusses the necessary elements that could help boost the growth of takaful in Turkey, where Islamic banking has grown rapidly.

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